JAMB - Islamic Religious Knowledge Irk (2015 - No. 16)
In the Islamic economic system, baytuk māl is equivalent to the
commercial bank
public treasury
common market
community bank
Explication
Bayt al-Mal, known as the public treasury of Islamic state, was established by the Prophet-may peace be upon Him- and then it was further extended and expanded by Abu Bakr and Umar, who succeeded the Prophet as the Caliph of the Islamic state